Hungarian Forint
Magyar forint
Currency Code
HUF
ISO 348
Symbol
HUF
Native: Ft
Decimal Digits
2
Rounding: 0
Countries
HU
Using this currency
Currency Units
Major Unit
Name: forint
Symbol: Ft
Minor Unit
Name: fillér
Symbol:
Value: 0.01
Banknotes
Frequently Used
500 Ft1000 Ft2000 Ft5000 Ft10000 Ft20000 Ft
Coins
Frequently Used
5 Ft10 Ft20 Ft50 Ft100 Ft200 Ft
Plural Forms
English Plural
Hungarian forints
Native Plural
Magyar forint
Overview
The Hungarian Forint is the currency of Hungary, managed by the National Bank of Hungary. It has been free-floating since 2008 and serves the Central European nation's export-oriented economy within the European Union.
Economy
- Hungary is a member of EU, NATO, OECD, Visegrád Group, Council of Europe.
- Main industries include: Mining, Metallurgy, Construction materials, Processed foods, Textiles, Chemicals, Motor vehicles.
- Hungary is part of the World Trade Organization.
- Imports are machinery and equipment, other manufactures, fuels and electricity, food products, raw materials.
- Major exports include machinery and equipment, other manufactures, food products, raw materials, fuels and electricity.
- GDP: $188.5 billion (2023 est.).
- GDP per capita: $19,388 (2023 est.).
- Unemployment rate: 4.1% (2023 est.).
- Inflation rate: 17.6% (2023 est.).
- Main trading partners: Germany, Romania, Italy, Slovakia, Austria, France.
- Trade agreements: EU Single Market, Various bilateral agreements.
History
- Previous currencies used: Hungarian pengő, Austro-Hungarian krone.
- The forint was introduced in 1946, replacing the pengő after one of history's worst hyperinflations. Named after the gold florins minted in Florence, it has been Hungary's currency through communist and democratic periods.
- 1946: Forint introduced, replacing pengő after hyperinflation
- 1957: National Bank of Hungary reestablished
- 1989: Democratic transition begins
- 2004: EU membership achieved
- 2008: Adoption of free-floating exchange rate
- 2010s: Unconventional monetary policies implemented
- Exchange rate peg: EUR target zone (2001-2008).
- Exchange rate peg: Free floating (2008-present).
General Information
- ISO 4217 Code: HUF
- Symbols: HUF/Ft
- Currency Subunits: 100 fillér
- Central Bank: National Bank of Hungary
- Monetary Policy: Inflation targeting with flexible exchange rate. Focus on price stability while supporting economic growth and competitiveness.
- Bills: 500 HUF, 1000 HUF, 2000 HUF, 5000 HUF, 10000 HUF, 20000 HUF
- Coins: 5 forint, 10 forint, 20 forint, 50 forint, 100 forint, 200 forint
- USD Exchange Rate: Variable (approximately 355-365 HUF per USD)
- Pegged To: None (Floating)
- Capital: Budapest
- Population: 9,676,135 (2023 est.)
- Area: 93,028 km²
- Languages: Hungarian (official), English, German
- Time Zones: UTC+1 (CET), UTC+2 (CEST in summer)
- Government Type: Parliamentary republic
- Head of Government: President (head of state), Prime Minister (head of government)
- Independence: December 25, 1000 (crowning of King Stephen I, traditional founding date)
- Ethnic Groups: Hungarian 85.6%, Romani 3.2%, German 1.9%, Other 9.3%
- Religions: Roman Catholic 37.2%, Calvinist 11.6%, Lutheran 2.2%, Greek Catholic 1.8%, Other 1.9%, None 18.2%, Unspecified 27.2%
- Literacy Rate: 99.1% (2015 est.)
- Transport: Budapest Ferenc Liszt International Airport, extensive road and rail networks, Danube River transport
- Communications: Advanced telecommunications, 82% internet penetration, comprehensive mobile coverage
- Energy: Natural gas 32%, Nuclear 48%, Coal 11%, Oil 7%, Renewables 2%
- Countries Using This Currency: Hungary
- Data Sources: Central Bank: National Bank of Hungary (mnb.hu), Economic Data: Hungarian Central Statistical Office, World Bank, IMF, Trade Data: Hungarian Customs and Excise Authority, Demographic Data: Hungarian Central Statistical Office, Geographic Data: Hungarian Meteorological Service, Historical Data: National Bank of Hungary archives
- Last Updated: 2025